123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

El Paso County Residential Values Increase 16.5%

Profile Picture
By Author: O’Connor
Total Articles: 91
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Review of 11,690 homes valued at $300,000 or indicates an increase in assessed value of $4.07 billion, up 10.9% from 4.52 billion in 2021. Total property taxes for 2021 for homes valued over $300,000 would total $129.2 million, based on a 2.7% tax rate before considering homestead exemptions.

El Paso has 157 homes valued at $1 million or higher. They are valued at $0.21 billion in 2021, up from $0.19 billion in 2020. Values were increased for 140 homes, reduced for 16 homes, and remained flat for 1 home.

Homes valued at $300,000 to 500,000 increased from 3.00 billion in 2020 to 3.34 billion in 2021, an 11.1% increase. Of the 9,928 in this price range, values were increased for 8,604, reduced for 1,323, and remained flat for 1.

Luxury homes valued at $500,000 to $1,000,000 rose to $0.97 billion in 2021 from $0.88 billion in 2020, a 10.1% increase. This group of homes had the smallest level of increase, but still a sizable increase. Most homes in this price range saw an increase in the property tax assessment. Of 1,605 homes valued at $500,000 to $1,000,000, 1,403 were increased in tax assessment, 200 were ...
... reduced and 2 did not change.

El Paso County homeowners are encouraged to protest their property tax assessment, regardless of whether it was increased, reduced, or remained flat. El Paso Appraisal District has limited staff to value well over 200,000 homes in El Paso County. Homes are valued using the cost approach. The only option for quality control is a property tax protest. Otherwise, El Paso Appraisal District staff is highly unlikely to review the estimate of value generated by their computers.

There is no risk to appealing. The appraisal district and appraisal review board may not increase the assessed value due to an appeal. The only options are to reduce it or leave it the same. 85% of homeowners who appealed in 2019 were successful in reducing their property tax assessment.

The property tax appeal deadline is Monday, May 17th.

Visit: https://www.poconnor.com/el-paso-county-residential-values-increase-16-5/

Total Views: 38Word Count: 335See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. What Is Crm In Real Estate And What Business Needs It Should Cover?
Author: Nazar Kvartalnyi

2. Invest In Properties With Appreciation Potential | Good Time Builders
Author: Good Time Builders

3. Best Villas For Sale In North Bangalore | Mims Northbrook
Author: MIMS northbrook

4. Commercial Projects In Noida, Commercial Property In Noida
Author: Radhe Krishna

5. Is Mysore Road The New Area Of Growth In Bengaluru’s Real Estate Market?
Author: Reema senma

6. Sriparvata Builders Bangalore Reviews Of Real Estate Investments
Author: malasri

7. Why Use Projects One?
Author: Safe Work Method Statements

8. What Makes Housing Park The Best Society In Derabassi?
Author: SBP Group

9. Bank Loan Made Easy With Mahira Homes Sector 104
Author: mahira homes

10. Is Serviced Office The Right Option?
Author: CBD Offices Perth

11. Invest In Your Dream Home In Luxury Apartments In Bangalore
Author: Saloni Mehta

12. Fort Bend County Residential Values Increase 6.7%
Author: O’Connor

13. What Makes Gateway Of Dreams The Best Project In Zirakpur?
Author: SBP Group

14. Where Will House Prices Rise Fastest In 2022?
Author: Graham Flaherty

15. Multiple Ways To Sell House Fast Baton Rouge
Author: Easy Property Search

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: